The Securities and Exchange Commission(SEC) is warning Ghanaians against investing in unregistered and unregulated crypto currency platforms.
According to the SEC, no crypto currency platforms or activities have been sanctioned and as such any Ghanaian who invest in any of those platforms does it at their own peril.
The SEC states that activities offered by such digital on-line trading platforms that promise high returns on investment entities are unregistered and unlicensed neither are they sanctioned nor registered by the SEC.
Some of such platforms include Bitcoin, XRP, Lite Coin, Ethereum, Monero, XRP, Tether, Tron, Binance Coin, Neo, IOTA, NEM, Holo, Waves, Ontology, Maker, Tezos, USD Coin, Ripple, Dash, Cardano, Stellar, ZCash, EOS and others.
In a press statement the SEC warned that none of such Crypto currencies are recognized as currency or legal tender in Ghana neither are the platform on which they are traded also licensed and regulated by the SEC.
It therefore warns that members of the general public who are investing or intend to invest in such currencies or assets may be doing so at their own risk and can in no way be protected under the Securities law regime in Ghana.
Meanwhile, SEC advises the public to report the activities of those offering such Cryptocurrencies, such as assets, schemes and their trading platforms to the Commission.